EOFY – Payroll Compliance

As we say goodbye to the 2025 End of Financial Year, it’s essential for employers to ensure their payroll obligations are met. Here are the key considerations for Single Touch Payroll (STP), superannuation obligations, and critical dates you don’t want to miss.

📌 Single Touch Payroll (STP) Finalisation

STP reporting has become business-as-usual for employers, but EOFY brings a few extra steps:

• Check that all payroll data—including year-to-date earnings, superannuation contributions, and PAYG withholding—is accurately reported.
• Finalise STP reports by 14 July 2025 for each employee to ensure their income statements are marked as “Tax ready” in myGov.
• If you employ closely held employees only, STP finalisation is not required until the due date of the closely held employee’s tax return.

🔍 Tip: Reconcile your payroll and wages payable ledgers with STP reports to avoid any discrepancies.

💸 Superannuation Guarantee Contributions

Super obligations remain a critical EOFY task:

• Quarter 4 super contributions (April–June 2025) must be received by the employees’ super funds by 28 July 2025. Failing to meet this deadline will result in having to lodge an SGC statement with unnecessary financial penalties as well as super contributions deemed not tax deductible.
• Ensure you’re applying the correct super rate—12% for all wages paid from 1 July 2025 onwards (for wages paid before 30 June 2025, super contributions on these wages are payable at 11.5%).

🧮 Reminder: Super contributions are only considered “paid” once received by the fund, not simply when processed by the clearing house.

– Jamie Newling & Tim Arnold

Posted 11.07.2025

This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.